News Now

Washington

Free training for CDFIs that support mid-size biz

WASHINGTON (9/27/12)--Community Development Financial Institutions (CDFIs) that lend to small- and medium-sized-businesses can receive free training through an upcoming CDFI Fund Capacity Building Initiative training series, entitled Innovations in Small Business Lending.

The training events, which will be provided by Deloitte Financial Advisory Services LLP, will help CDFIs grow their business lending capabilities. The first training event has been scheduled for Nov. 13 and 14, at the Minneapolis Federal Reserve in Minneapolis, Minn. Additional training events are scheduled to be held between November 2012 and May 2013, and those events will be announced as they are finalized.

The free training events will help CDFIs better tailor their lending practices and analyze multiple national and local lending trends, the CDFI Fund release said. Deloitte trainers will also help CDFIs evaluate the potential economic and social impact of their business lending, and perform preliminary financial calculations, the release added.

CDFI Fund Director Donna Gambrell said the training events will expand the Capacity Building Initiative's efforts to provide cutting edge training, technical assistance, and impact analysis to CDFIs that work to support small and medium enterprises in underserved communities throughout the United States, and will "help CDFIs enhance and expand business lending, ultimately putting more Americans back to work."

The Credit Union National Association (CUNA) continues to fight to increase the member business lending cap for credit unions by supporting two bills that would increase the cap from 12.25% of assets to 27.5% of assets. CUNA expects the Senate version of MBL legislation, S. 2231, the Small Business Lending Enhancement Act, to receive a vote once the U.S. Congress returns to Washington in November.

CUNA has estimated that an MBL cap increase would create 140,000 jobs and inject $13 billion in new funds into the economy during the first year after enactment. Both benefits would come at no cost to taxpayers.